High-end house prices in Kiama are nearing the $5 million mark, with an eye-catching home with development upside set to add to the trend.
The home at 4 Elanora Road, Kiama Heights has a price guide of $4.5 million to $4.9 million, and offers ocean, headland and hinterland views.
Positioned overlooking the green hills and Loves Bay, this property boasts two titles on an 1480 square metre block.
Co-selling agent, Greg Crumpton from Stone Real Estate Illawarra said the property afforded the opportunity to build your dream home or two residences.
Alternatively, the buyer can utilise the existing DA approval for a duplex on one block, leaving the other block free to do a second build.
"One of the two blocks has DA approval to build an upmarket duplex, leaving the other free to also be developed, either similarly, or used as one larger home, depending on the buyer's intentions and subject to council approval," he said.
He said the current three-bedroom, two-bathroom home has been built across the two blocks, and if the buyer wished to develop the site, the DA approval for the subdivision is subject to the house being removed.
According to CoreLogic, the property previously sold in May 2017 for $1,575,000.
Mr Crumpton said the interest in the property was primarily from investors and developers, as they could potentially end up building three to four homes on the site, all on the waterfront reserve.
The seller, who did not wish to be named, said their favourite features of the property were the farmland and ocean views, as well as the privacy.
"It's a great property to develop as well, being two blocks - it's a blank canvas, so much can be done with it," she said.
"One of the things we've loved since being here is whale season, and being able to watch the whales jump from our kitchen table."
The location is a popular one - the property at 34 Elanora Road, Kiama Heights sold for $3.45 million in August.
"Anywhere on the waterfront these days is prime property, and that street is a quiet, no through cul-de-sac with access to the popular Kiama Coast Walk and Loves Bay," Mr Crumpton said.
"The Kiama market is very hot, even during lockdowns - especially waterfront properties."
The Kiama area has featured a series of high-end sales during recent times.
The home at 21 Gwinganna Avenue, Kiama sold for $4.8 million in July, and 5 Gwinganna Avenue, Kiama sold for $4,620,000 in February.
Also, 39 Tingira Crescent, Kiama sold for $4,555,500 recently.
In nearby Minnamurra, 112 Charles Avenue is believed to have sold for $5.1 million.